Categories: Uncategorized-fix

Hailo raises $60M Series B for its AI chips

Israeli AI chipmaker Hailo today announced that it has raised a $60 million Series B funding round led by its existing investors, who were joined by new strategic investor ABB Technology Ventures, the venture arm of the Swiss-based multination ABB, NEC Corporation and Londons’ Latitude Ventures. The new funding will help Hailo to roll out its Hailo-8 Deep Learning chip and to get into new markets and industries.

“This immense vote of confidence from our new strategic and financial investors, along with existing ones, is a testimony to our breakthrough innovation and market potential,” said Orr Danon, CEO and co-founder of Hailo. “The new funding will help us expedite the deployment of new levels of edge computing capabilities in smart devices and intelligent industries around the world, including areas such as mobility, smart cities, industrial automation, smart retail and beyond.”

I last met with the Hailo team at CES in January. At the time, the company was showing off a number of impressive demos, mostly around real-time image recognition. What makes the Hailo chip stand out is its innovative architecture, which can automatically adapt resources to best run its users’ custom neural networks. With this, the chip doesn’t just run faster but is also far more energy efficient. The company promises 26 tero operations per second in performance from its chip, which it says ” outperforms all other edge processors with its small size, high performance, and low power consumption.”

With this round, Hailo’s total funding is now $88 million. In part, the investor enthusiasm for Hailo is surely driven by the success of other Israeli chip startups. Mobileye, after all, went to Intel for $15.3 billion, which also recently acquired Habana Labs. And the time, of course, is ripe for deep learning chips at the edge, now that AI/ML technology is quickly becoming table stakes.

“Hailo is poised to become a defining player in the rapidly emerging market for AI processors,” said Julian Rowe, Partner at Latitude Ventures. “Their Deep Learning edge chip can be disruptive to so many sectors today, while the new, innovative use cases Hailo’s chips can unlock are just starting to reveal themselves. We’re thrilled to join the team for what lies ahead.”

Read More

News

Recent Posts

Use Yelp to Find Out About a Restaurant’s COVID-19 Safety Measures

Whether you’re someone who inexplicably felt comfortable dining indoors during the pandemic (when that was…

18 mins ago

Get Paid 500 to Eat Pizza and Binge-Watch Netflix Shows

Some people decided to use their extra time at home during the pandemic to brush…

18 mins ago

The way to Eyeball the 6-Feet Required for Physical Distancing

By now, we’ve been keeping 6 feet apart from other people (or at least been…

18 mins ago

The way to Get Rid of Mold Growing Inside Your Car

Owning a car or other vehicle can be a mixed bag. On the one hand,…

18 mins ago

Visit a National Park for Free on Monday in Honor of Martin Luther King Day

In addition to being Martin Luther King, Jr. Day, Monday marks the beginning of a…

18 mins ago

RNA’s mysterious fold procedure

Using data from RNA-folding experiments, the researchers generated the first-ever data-driven movies of how RNA…

18 mins ago